GLOBAL AIR SUSPENSION MARKET
INTRODUCTION
The vehicle suspension driven by the compressor driven air-pump is known as air suspension. Instead of conventional springs the air suspension is used in mostly heavy duty vehicles such as buses and trucks. The main purpose of air suspension is to provide smooth and constant ride quality.
Factors such as need for better ride quality, reduction in driver’s fatigue and increase in premium passenger car sales has positively impacted the air suspension market. The air suspension system comprises of shock absorbers, bellows, air compressor, electronic control unit and much more. The higher adoption cost is restraining the growth of the market.
AIR SUSPENSION MARKET SEGMENTATION
By Type of Vehicles
- Passenger Car
- Light Commercial Vehicles
- Truck
- Buses
By Technology
- Manual Air Suspension
- Electronic Air Suspension
By Component
- Air Spring
- Air Compressor
- Shock Absorber
- Electronic Control Unit (ECU)
- Height Sensor
- Others
By Geography
- US
- Europe
- China
- India
- ROW
AIR SUSPENSION MARKET DYNAMICS
The growing trend for luxury buses and growing preference for comfort of the passengers is boosting the demand for air suspension systems.
Technological advancement such as ECAS (Electronically Controlled Air Suspension) has helped in the growth of the market. Further increase in demand for lightweight air suspension systems will help to expand the market on a global scale.
Air Suspension is a common feature in the premium/luxury segment passenger vehicles. However, in 2020, the top 3 luxury car brands Mercedes Benz, BMW and Audi cumulatively have suffered a 10% drop in sales compared to 2019.
AIR SUSPENSION MARKET BY VEHICLE TYPE
Heavy commercial vehicles are holding the maximum share in the global market. The demand for luxury buses and trucks has been the major factors for this. The need for high comfort and safety of passengers in buses is expected to boost the market.
Among passenger vehicles, the premium vehicles are being installed with air suspension system. The SUVs and off-road vehicles’ sales will boost the market as suspension plays a crucial role in the vehicle’s performance.
AIR SUSPENSION MARKET BY COMPONENT
Based on the component air spring will hold a considerable share owing to the product replacement due to exposed to high pressure. The ECU market is expected to see a significant growth as it plays a crucial role in ECAS. The slow shifting from manual to ECAS will boost the ECU market.
The below chart shows the market based on component
AIR SUSPENSION MARKET BY TECHNOLOGY
The manually controlled technology holds the highest market share. However, with the introduction of ECAS, consumer preference is leaning towards electronically controlled system. As ECAS offers reduced vibration, noise and air consumption providing comfortable ride. These factors influence the electronically controlled market positively. Most of the heavy commercial vehicles like buses and trucks in Europe come with ECAS as standard option.
US AIR SUSPENSION MARKET
The air suspension market will be boosted with the increase in demand of the SUVs and off road vehicles. Air suspension is found in the RAM pick-up vehicles as optional feature.
USA holds the highest population of commercial vehicles in the world. Among trucks and buses air suspension is a standard feature in most of them.
EUROPE AIR SUSPENSION MARKET
In Europe among passenger cars, the luxury car makers such as Audi, Mercedes and BMW provide the air suspension system as standard option in most of their premium models. Volvo in its cars is providing air suspension as an option.
The presence of major air suspension manufacturers will help boost the European market in this sector. Volvo buses come with ECAS as standard optional in all the models. Among the trucks DAF (Netherlands), Iveco trucks (Italy) and Volvo (Sweden) have air suspension as standard at rear wheels and are optional at front wheels in most of their models.
In Europe, the bus sales in 2020 dropped by 21% from 43,799 to 34,781 units. The share of E-buses and alternative fuel run buses increased on an average by 25% Y-o-Y. The share of diesel buses declined drastically by ~30%.
CHINA AIR SUSPENSION MARKET
In China air suspension is mostly found in tourism buses and less frequently seen in city buses. Yutong the presence of one of the largest bus manufacturers in the world will help expand the market vastly in the China region.
Among trucks the penetration of air suspension is less in LCV, but can be found extensively in M&HCV.
In China Light Bus sales in 2020 went up by 6.5% Y-o-Y, and ended at 334,400. They alone accounted for 76% of the total bus sales in China. This will boost the air suspension market in China.
INDIA AIR SUSPENSION MARKET
The penetration of air suspension market in passenger cars is very low in India. However, they are extensively found in Ashok Leyland city buses. As the air suspension helps improve fuel efficiency thus reducing emission, this will boost the air suspension market in India.
RECENT MARKET TRENDS
- Mercedes came up with E-Active Body control new suspension technology. It provides a better ride comfort and agility plus with completely new functions such as free-driving mode.
- The feature comes with a combination of newly developed AIRMATIC air suspension. This is the only system in the market where the spring and damping forces can be individually controlled at each wheel, available in the new GLE 400d.
- WABCO launches its WABCO Air Suspension technology with ECAS technology, ECAS technology is equipped with an intelligent system that uses rubber bellows filled with pressurized air instead of traditional coil or leaf springs, and the air pressure in the suspension can be increased or decreased depending on load.
- Hitachi introduces new detection technology with a vehicle suspension system which includes a drive control system that will adjust vehicle stability in response to road surface conditions.
- Thyssenkrup AG develops a BILSTEN coilover suspension system. The systems include complex milled connecting parts and a wide variety of adjustment options, and use aluminium instead of steel for the damper tubes.
- The ePlus air management system app developed by AccuAir Suspension allows users to control the ride height of their car or truck from a smartphone, eliminating the need for a secondary control source.
- Hendrickson Truck Commercial Vehicle Systems launches its ULTIMAAX suspension on Miller’s M100 Rotator. It is available in capacities of 46,000, 52,000, 60,000 and 70,000 pounds, ULTIMAAX is approved for a variety of vocational and severe-duty applications.
- SAF-Holland launches its CBX AeroBeam Series. The AeroBeam design features the optimal balance of strength and weight and stands up to the rigorous demands, it claims the product to be the industry’s lightest weight line of fixed frame air suspensions, and includes 23K, 25K, and 30K pound capacity models.
- Tesla launches its smart air suspension system in its new tesla models the new ‘Raven’ drivetrain, they upgraded the air suspension to what they called Adaptive Suspension, which is now standard on the Model S and Model X as of 2019.
- Liquid spring introduces a smart suspension system for ambulances, shuttle buses, RVs, school buses and work trucks whereas the liquid-based struts and an onboard processor will provide better handling and control.
- ZF Friedrichshafen is set to acquire Wabco Holdings Inc for $ 7 billion.
- Firestone has launched 12 new air springs for European commercial vehicles to Euro 6 standards.
- Continental AG has launched a new air spring which has successfully reduced the kerb weight of commercial vehicles by 15 kg.
- Hendrickson International has completed acquisition of Ohio based Liteflex suspension spring manufacturer for heavy duty vehicles.
- US based Ridetech has acquired Fox Factory Holdings Corp to expand the technological developments in air suspension and shock absorbers.
COVID-19 IMPACT ON AIR SUSPENSION MARKET
Covid -19 posed a big threat to the financial stability of the big industries, the suspension market witnessed the worst economic downturn during these times, which coerced them to hold back their major actions.
The top competitors of the suspension market addressed a major loss in their sales and markets. Further due to shut down of the manufacturing plants of their own brand, the OEM’s, part suppliers and the transportation and the travelling restrictions due to imposed lockdown had a worst hit on their logistics and the supply chains.
Considering this as a major challenge many industries are now opting for digitalized solutions and have started to work upon their strategies such as product development, product innovation and business development.
Here is a list of reforms listed out by the major competitors of the market:
- Continental’s Transformation 2019 – 2029 structural programs which will be focused on skill development of their employees using tailored programs to enhance their employability, this would consider the semi-skilled labours of Germany in particular.
- SAF Holland strategic objectives include the company’s planning for investments of approximately 2.5% of Group sales once again for the 2021 financial year. This capital expenditure will focus primarily on continuing the introduction of a Global Manufacturing Platform, further automation and the programme FORWARD 2.0 as well as IT.
- Hendrickson Trailer Commercial Vehicle Systems announces the launch of their online digital Trailer Suspension Parts Catalogue. Digital parts catalogues for Trailer, Truck, and Bumper & Trim division are all available via MAAXUPTIME.com.
AIR SUSPENSION MARKET SIZE AND FORECAST
The need for improved safety has led to the development of the suspension continuously. This will help increase the market substantially. The higher penetration in off road vehicles as the air suspension will be more useful in such conditions it will help improve the market.
COMPETITIVE LANDSCAPE
Some of the key players in the air suspension sector are Wabco Holding (US), Firestone Industrial Products (US), Continental AG and SAF- Holland both from Germany, Hitachi Ltd (Japan) and ThyssenKrupp AG (Germany).
- In a persistently challenging market environment, Continental achieved a good result in the first quarter of 2021 the company further had a profit in its +3.5% of increase in its sales.
- SAF-Holland reports that its financial result improved in the reporting period from January to March2021, its share of spare parts business increased by 1.2% points, and the adjusted gross profit improved to EUR 56.0 million in the first quarter of 2021 due to the sales and cost situation.
- Hitachi reports an increase of its total assets 1,992.7 billion yen from March 31 2020 to 11,852.8 billion yen which was majorly due to acquisition of power grids business from ABB Ltd and Hitachi Astemo Ltd.
COMPANY PROFILE
- Wabco Holdings
- Accuair Suspension
- Continental AG
- Hendrickson International
- SAF-Holland
- Dunlop System and Components
- ThyssenKrupp AG
- Hitachi Ltd
- Firestone Industrial Products
- BWI Group
- Mando Corporation
